18 for 10 rights issue, page-34

I'd also like to ask someone who knows more than me to interpret this:

"The Company’s major shareholder, Freefire, which currently holds 23.1% of the Company’s issued shares, has
agreed to fully underwrite the rights issue at the issue price of $0.001 (0.1 cent) per share. Freefire has also
agreed to take up its full pro rata entitlement under the Rights Issue. However because it recently increased its
holding of shares in the Company beyond 19.9% Freefire is not entitled to apply for any of the shortfall in
addition to its pro rata entitlement."

If Freefire is fully underwriting the $6.9m, then implicit in that statement is that it will take on all the shortfall. However, the statement then says that they cannot apply for any shortfall. Does that mean that any shortfall becomes a loan from Freefire, as opposed to additional equity?